The Bank of Japan has announced plans to scale back its coronavirus emergency economic support programme, tapering its corporate debt purchases to pre-pandemic levels as it follows other big global central banks in phasing out crisis-era policies.
The BoJ made no changes to its ultra-loose monetary policy, however, as it monitors the impact of the new Omicron coronavirus variant.
The monetary support, which was introduced in March 2020, included buying corporate bonds and commercial paper as well as offering cheap funding to financial institutions that extended loans to pandemic-hit small businesses.
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